I have been watching IRF as a potential CANSLIM buy. Here is a checklist:

C - Current Quarter Earnings:Most recent quarter earnings $0.73 compared to previous years same quarter earnings of 0.38 is more than 25%. So, Pass.

A - Annual Earnings:I could not get the earnings growth for the past 5 years. However, annual earnings for the past year (06/2000) is $1.27 compared to current year (till last quarter) is 2.07 which is good. So, Pass.

N - New Products/New services and New high:Recently IRF introduced new products. Pass.Is this stock making new high? Yes, but pulled back. Pass.Management owns about 17% which is also good sign.

S - Supply and Demand:Shares outstanding: 62.3 MillionFloat:52.0 Million. This is not low float stock. So grade is Neutral.

L - Leader or LaggardDefinitely leader. Relative Strength is 90. Pass.Group strength is weak, IBD ratings is E, but group rank is improving. Not a very good sign because the stock is not from leading group.

I - Institutional Support. Institituinal ownership is about 70%. A+ rated funds are holding this stock.

M - Market direction. General market direction is healthy. Pass.

Chart Pattern:The stock formed a cup base started mid Nov 2000 and tried to break without handle on 05/21/2001 and also volume on the break out day is not very high. Then it corrected about 10% on low volume.

Current cosensus estimates for that next quarter earnings is just 5% higher than the previous year same quarter. So, this will fail in the 'Current quarter earnings' check. Can I still consider this as a potential CANSLIM stock.

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